ChargePoint Holdings (CHPT) is lower in early trading Friday in reaction to a disappointing revenue forecast by the EV charging station firm Thursday evening. In our November 17 review of the charts we wrote that, "In the long run I expect that charging stations will be a big and profitable business. In the short run I fear that the stock price of CHPT is going to retest the 2022 lows."
Let's check out the charts and indicators again of this Action Alerts PLUS holding.
In the daily bar chart of CHPT, below, we can see that the shares have remained weak into early December. Prices continued to remain in a downward trend below the declining 50-day and 200-day moving average lines.
The daily On-Balance-Volume (OBV) remained in a downtrend telling us that sellers of CHPT remained more aggressive. The Moving Average Convergence Divergence (MACD) oscillator is still bearish.